| - |
|
Top story
|
What's in a name? Cammell Laird returns
The Cammell Laird name formally returned to the Mersey today as Northwestern Shiprepairers and Shipbuilders was finally renamed after the Birkenhead shipyard that closed its gates in 2001. In the seven intervening years a small group of Cammell Laird’s former management team, led by managing director John Syvret, had built up the new company. Syvret said: “We bought back the Cammell Laird name via the receivers some time ago, but have waited until now to restore it to its rightful home. We passionately believed that to bring back the Cammell Laird brand name and trademark we had to have enough financial strength, substance and credibility to live up to its international reputation. Cammell Laird is an internationally recognised brand that carries tremendous goodwill when bidding for contracts.” In October the company formed an alliance with Italian shipbuilding giant Fincantieri to support its pursuit of the tender to build six fleet replenishment tankers for a UK Ministry of Defence programme known as the MARS project.
|
|
|
Deals
|
AIM quietest for four years
Quarterly analysis of the AIM market by business advisory firm Deloitte has shown that there has been the lowest level of activity on AIM in quarter three of 2008 than in any other quarter for more than four years. Richard Bell, head of transaction services for the north at Deloitte, said: “The wider economic turmoil that we are all aware of has stymied almost all attempts to raise new money on AIM. There remains a pipeline of companies seeking an admission to AIM, but these are playing a waiting game: even if they found investors willing to provide the funds, the severe risk aversion in the marketplace means valuation expectations are difficult, if not impossible, to meet.” Total fundraising on AIM in quarter three was £826m, comprising £190m of new money and £637m of secondary fundraising. 
In Focus – after the party
The Monday after the deals event of the year, Insider editor Michael Taylor looks back at the Insider Dealmakers Awards 2008 and assesses the overall mood. “The awards gave us the chance to assess the old reality and face up to what the new reality might look like,” he says in this week’s online column In Focus, reflecting on “the passing of one era and the start of another one”. Click here to read more.
|
|
Business
|
Proventec spreads its wings in Europe
Liverpool-based Proventec, the AIM-quoted provider of steam cleaning and coating services, has applied for its convertible bonds to be listed on Alternext, a market operated by Euronext Paris. Since Proventec dual listed on Alternext in May, it has seen increased investor interest from outside the UK. The company believes this listing will continue to give it access to mainland European capital markets. In October Proventec acquired a 60 per cent share in Dutch industrial cleaning company CryoJet Industrial Services.
They shopped 'til they dropped
The British Council of Shopping Centre’s annual conference and showcase is reported to have provided a £1.5m boost to the city’s economy when it took place in the BT Convention Centre last week. The biggest annual gathering of the retail property industry in the UK, the event brought almost 3,000 delegates to the city over three days, with an average spend of £500 per person. Jacquie Rogers, BT Convention Centre general manager, said: “Being able to host an event like this really puts BT Convention Centre up there in the top flight of venues and also demonstrates what an impact our venue has on the local economy.”
Gray to join MediaCity
Coming just days after business secretary Peter Mandelson confirmed that the chairmanship of the Northwest Regional Development Agency (NWDA) would remain unchanged until December 2009, Bryan Gray has accepted an offer from MediaCity developer Peel Media to become its chairman. Gray, who is also the pro-chancellor of Lancaster University and chairman of Liverpool Capital of Culture, will juggle his new role with existing NWDA responsibilities from December. One of his first tasks will be to find a successor for Brian Greasley, who stepped down from the position of managing director earlier this month.
Dunweedin’ opens green gardening plant
Cheshire-based Dunweedin’, a manufacturer of recycled garden landscaping and playground products, has opened a multimillion-pound production plant in Middlewich. The factory will enable the company to increase production of its garden chippings range, made from recycled rubber tyres. Dunweedin’ has partnered with independent recycling group SITR to open the £4m facility. Marketing manager Bob Jones said: “This is a key time to be part of the Dunweedin’ success story. We are concentrating on giving added value to stockists – driving customers to stores and positioning Dunweedin’ as a ‘must have’ for the garden.”
Award cheer for automotive industry
The automotive industry might be feeling the economic downturn more than most, but the inaugural Northwest Automotive Alliance awards at least provided a chance to honour some regional success over the past year. The Ellesmere Port plant of beleaguered car manufacturer General Motors led the way, winning the North West Large Enterprise of the Year award after it beat off competition from GM’s other European plants to build the new Astra. At the other end of the scale, Scorpion Electro Systems in Chorley was named North West Small/Medium Enterprise of the Year. Other winners included Sanko Gosei UK, Getrag Ford Transmissions and Helical Technology.
Energy demand set to fall
Britain’s recession could see energy demand plunge by as much as 7 per cent, according to a report by sector analyst Inenco published tomorrow. Lancashire-based Inenco’s report, New Directions for Energy Policy, reveals that by the end of October the average peak demand was about 3 per cent less than in 2007 as the effects of the economic crisis began to hit businesses. Ian Parrett, of Inenco, which operates from headquarters in St Annes, said: “As production drops so does the demand for the energy that drives it. Some businesses will cease to trade and others will lay off staff and cut back on hours.”
|
|
Property
|
Warrington the winner as Royal Mail consolidates
Royal Mail has chosen a 179,000 sq ft unit at Winwick Quay in Warrington for a new depot that will replace five sorting offices in the region, including Copperas Hill in Liverpool. The warehouse is owned by F& C Reit and occupies an 11-acre site. Liverpool Vision is said to be keen to buy Copperas Hill as the site is seen as central to opening up links between the city centre and the university.
Get to the Point
Work has been completed on Forward Point, the first speculative grade A office scheme in Widnes for a decade. The £2.4m scheme has been delivered by Cheshire developer The Forward Partnership on time and on budget and comprises 16,553 sq ft of space across three buildings at the junction of Tan House Lane and Moss Bank at a key access point to the Widnes Waterfront Economic Development Zone. Units are available for sale or lease in suites from 2,207 sq ft and will be officially launched next week.
A Knight’s tale at the Port
Knight Frank has been appointed as joint agent with CB Richard Ellis at the Port of Liverpool Building by Downing. Downing, Liverpool’s largest private commercial landlord, is progressing with a privately-funded £10m refurbishment and restoration of the historic building. A total of 31,982 sq ft of commercial space is available to let in suites from 600 sq ft upwards.
Backhouse bounces back
Well-known Liverpool property agent Roy Backhouse has set up his own property consultancy, Roy Backhouse Co Chartered Surveyors. Backhouse was made redundant earlier this month by GVA Grimley, where he had been director of industrial agency, and has secured agreements to jointly handle some of developer Langtree’s Merseyside portfolio, including Wellington Employment Park South, Venture Point West industrial site, Alchemy in Knowsley and Connect Business Village in north Liverpool.
|
|
Events
|
Dates for your diary this week
The second Morgan Foundation Entrepreneur Awards is taking place at the Carden Park Hotel in Cheshire on Thursday evening, with Insider as media partner. Suitably, it’s Global Entrepreneurship Week, which aims to connect enterprising young people in the UK with their counterparts in other parts of the world and create a global movement of entrepreneurial people. The North West is holding almost 650 events run by 300 organisations, including a special event by Striding Out for creative entrepreneurs at the Sony Centre on Paradise Street on Tuesday evening. And Agent Marketing is running a drop-in marketing session at The Mocha Lounge on Sir Thomas Street on Thursday from 2pm. St Helens is launching its revised.City Growth Strategy at the World of Glass on Thursday evening and English Heritage is holding the On the Waterfront conference at the BT Convention Centre in Liverpool from Wednesday to Fridaym an international event that brings together experts in culture, heritage and regeneration from around the world.
|
|
|
Contact Us
Insider
8th Floor, Boulton House
17-21 Chorlton Street
Manchester
M1 3HY
Telephone: +44 (0)161 907 9711
Email:
nw@insiderdaily.co.uk
|
|
Subscribe
To subscribe to the eBulletin,
click here.
|
|
- |
